ITB vs. YCS
ITB (iShares U.S. Home Construction ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - ITB is a Building & Construction fund tracking the Dow Jones U.S. Select Home Construction Index, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past 10 years, ITB returned 13.57%/yr vs 13.13%/yr for YCS. At a 0.08 correlation, their price movements are largely independent. ITB charges 0.38%/yr vs 1.00%/yr for YCS.
Performance
ITB vs. YCS - Performance Comparison
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Returns By Period
In the year-to-date period, ITB achieves a 1.88% return, which is significantly lower than YCS's 10.29% return. Both investments have delivered pretty close results over the past 10 years, with ITB having a 13.57% annualized return and YCS not far behind at 13.13%.
ITB
- 1D
- 0.90%
- 1M
- 1.00%
- 6M
- -8.30%
- YTD
- 1.88%
- 1Y
- -0.37%
- 3Y*
- 5.78%
- 5Y*
- 8.26%
- 10Y*
- 13.57%
YCS
- 1D
- -0.78%
- 1M
- 2.50%
- 6M
- 8.31%
- YTD
- 10.29%
- 1Y
- 29.06%
- 3Y*
- 20.30%
- 5Y*
- 24.01%
- 10Y*
- 13.13%
ITB vs. YCS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ITB iShares U.S. Home Construction ETF | 1.88% | -5.26% | 2.06% | 68.91% | -26.26% | 49.25% | 26.42% | 48.70% | -30.92% | 59.65% |
YCS ProShares UltraShort Yen | 10.29% | 9.04% | 35.41% | 28.70% | 29.09% | 22.38% | -11.18% | 3.37% | -1.49% | -6.57% |
Correlation
The correlation between ITB and YCS is -0.28, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.15 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.04 |
Correlation (All Time) Calculated using the full available price history since Nov 25, 2008 | 0.08 |
The correlation between ITB and YCS shifts across timeframes, from -0.28 (1 year) to 0.08 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ITB vs. YCS — Risk / Return Rank
ITB
YCS
ITB vs. YCS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Home Construction ETF (ITB) and ProShares UltraShort Yen (YCS). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ITB | YCS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.93 | ||
| Sortino ratioReturn per unit of downside risk | -2.23 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 1.35 | -0.34 |
| Calmar ratioReturn relative to maximum drawdown | -0.07 | 3.76 | -3.83 |
| Martin ratioReturn relative to average drawdown | -0.13 | 11.88 | -12.01 |
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Drawdowns
ITB vs. YCS - Drawdown Comparison
The maximum ITB drawdown since its inception was -86.53%, which is greater than YCS's maximum drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for ITB and YCS.
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Drawdown Indicators
| ITB | YCS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -86.53% | -49.56% | -36.97% |
Max Drawdown (1Y)Largest decline over 1 year | -26.04% | -8.30% | -17.74% |
Max Drawdown (3Y)Largest decline over 3 years | -33.35% | -23.05% | -10.30% |
Max Drawdown (5Y)Largest decline over 5 years | -40.55% | -27.32% | -13.23% |
Max Drawdown (10Y)Largest decline over 10 years | -52.10% | -27.32% | -24.78% |
Current DrawdownCurrent decline from peak | -22.77% | -1.01% | -21.76% |
Average DrawdownAverage peak-to-trough decline | -37.02% | -19.82% | -17.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.97% | 2.62% | +11.35% |
Volatility
ITB vs. YCS - Volatility Comparison
iShares U.S. Home Construction ETF (ITB) has a higher volatility of 11.13% compared to ProShares UltraShort Yen (YCS) at 3.05%. This indicates that ITB's price experiences larger fluctuations and is considered to be riskier than YCS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ITB | YCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.13% | 3.05% | +8.08% |
Volatility (6M)Calculated over the trailing 6-month period | 22.59% | 11.94% | +10.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 30.21% | 16.66% | +13.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.51% | 21.09% | +8.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.13% | 18.75% | +11.38% |
ITB vs. YCS - Expense Ratio Comparison
ITB has a 0.38% expense ratio, which is lower than YCS's 1.00% expense ratio.
Dividends
ITB vs. YCS - Dividend Comparison
ITB's dividend yield for the trailing twelve months is around 0.66%, while YCS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ITB iShares U.S. Home Construction ETF | 0.66% | 1.67% | 0.46% | 0.48% | 0.86% | 0.37% | 0.46% | 0.50% | 0.63% | 0.28% | 0.43% | 0.34% |
YCS ProShares UltraShort Yen | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ITB and YCS have a correlation of -0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ITB has higher volatility (11.13%) compared to YCS (3.05%). In terms of maximum drawdown, ITB dropped -86.53% vs YCS's -49.56%.
On 10-year performance, ITB leads with 13.57% vs 13.13% for YCS. On fees, ITB is cheaper at 0.38% per year. On volatility, YCS has been the lower-risk option at 3.05%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, ITB has performed better with a 13.57% return vs 13.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ITB is cheaper with a 0.38% expense ratio, compared with 1.00% for YCS.
ITB has the higher dividend yield at 0.66%, compared with 0.00% for YCS.
ITB is categorized as Building & Construction, while YCS is Leveraged Currency. ITB tracks Dow Jones U.S. Select Home Construction Index, while YCS tracks USD/JPY Exchange Rate (-200%). They also come from different issuers: iShares and ProShares. Their fees differ too: 0.38% for ITB and 1.00% for YCS.
YCS currently has the higher Sharpe Ratio (1.87 vs -0.06), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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